JD.com (JD) Research & Development (2013 - 2026)
JD.com (JD) posted quarterly Research & Development of -$995.0 million for Q1 2026, down 56.2% year-over-year from -$2.3 billion in Q1 2025, and down 4.41% quarter-over-quarter from -$953.0 million in Q4 2025.
JD.com (JD) Research & Development (2013 - 2026) Analysis & Trends
JD.com (JD) has reported Research & Development for 14 consecutive years, with -$995.0 million the latest figure, recorded in Q1 2026.
- In Q1 2026, Research & Development fell 56.2% year-over-year to -$995.0 million; the TTM figure through Mar 2026 stood at -$3.5 billion (down 42.43% YoY), while the FY2025 annual figure was $3.2 billion, up 36.26% from the prior year.
- Research & Development slipped to -$995.0 million in Q1 2026 per JD's latest filing, from -$953.0 million in the prior quarter.
- Across five years, Research & Development topped out at -$520.0 million in Q3 2023 and bottomed at -$995.0 million in Q1 2026.
- Historically, Research & Development has averaged -$664.2 million across 5 years, with a median of -$611.0 million in 2023.
- Annual changes were most pronounced in 2023 — Research & Development gained 11.85% — and 2025, when it slumped 58.57%.
- JD.com's Research & Development stood at -$633.0 million in 2022, then advanced by 3.48% to -$611.0 million in 2023, then grew by 1.64% to -$601.0 million in 2024, then slumped by 58.57% to -$953.0 million in 2025, then decreased by 4.41% to -$995.0 million in 2026.
- Business Quant data shows JD's Research & Development at -$995.0 million in Q1 2026, -$953.0 million in Q4 2025, and -$793.0 million in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Amazon Com | 2,924.81 Bn | 2,801.82 Bn | 198.88 Bn | 62.73 Bn |
| 2 | PDD Holdings | 507.43 Bn | 447.89 Bn | 9.83 Bn | -714.26 Mn |
| 3 | Mercadolibre | 97.63 Bn | 82.44 Bn | 4.16 Bn | 1.13 Bn |
| 4 | DoorDash | 92.84 Bn | 87.49 Bn | 2.35 Bn | 821.00 Mn |
| 5 | JD.com | 87.50 Bn | 58.32 Bn | 7.66 Bn | -995.00 Mn |
| 6 | Sea | 78.11 Bn | 69.60 Bn | 3.15 Bn | -1.41 Bn |
| 7 | Ebay | 47.53 Bn | 44.23 Bn | 2.30 Bn | 697.00 Mn |
| 8 | Coupang | 29.77 Bn | 23.66 Bn | 2.49 Bn | - |
| 9 | Zkh | 16.08 Bn | 16.08 Bn | 51.11 Mn | -4.25 Mn |
| 10 | Wayfair | 13.71 Bn | 12.57 Bn | 1.05 Bn | - |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | -995.00 Mn |
| Dec 31, 2025 | -953.00 Mn |
| Sep 30, 2025 | -793.00 Mn |
| Jun 30, 2025 | -740.00 Mn |
| Mar 31, 2025 | -637.00 Mn |
| Dec 31, 2024 | -601.00 Mn |
| Sep 30, 2024 | -626.00 Mn |
| Jun 30, 2024 | -580.00 Mn |
| Mar 31, 2024 | -559.00 Mn |
| Dec 31, 2023 | -611.00 Mn |
| Sep 30, 2023 | -520.00 Mn |
| Jun 30, 2023 | -562.00 Mn |
| Mar 31, 2023 | -610.00 Mn |
| Dec 31, 2022 | -633.00 Mn |
| Sep 30, 2022 | -579.00 Mn |
| Jun 30, 2022 | -601.00 Mn |
| Mar 31, 2022 | -692.00 Mn |
| Dec 31, 2021 | -644.18 Mn |
| Sep 30, 2021 | -621.41 Mn |
| Jun 30, 2021 | -572.04 Mn |